Navigating the Complex Tax Implications of the COVID19 Pandemic

As we struggle to recover from the economic impact of the coronavirus (COVID-19), companies are looking at a wide range of scenarios to restructure their obligations and stay in business. Also, there are opportunities for funds and strategic investors to purchase or invest in these distressed assets. These options have significant tax complications as well as tax opportunities that can impact the return on investment. Our attorneys, who have a wealth of experience in distressed company tax situations, will discuss:

• The tax basics of cancellation of debt (COD) and debt modification
• Issues with related party purchases, private equity buybacks, and debt purchases
• Bankruptcy-related tax issues
• Industry-specific tax situations and structural issues
• The impact of the CARES Act and other U.S. government stimulus on tax planning for distressed assets

Speakers

• Rick Cox, Partner, Nixon Peabody LLP
• Vadim Mahmoudov, Principal, PwC